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fredericksppeedddf
25.08.2019 •
Mathematics
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find how long it takes $1500 to double if it is invested at 7% interest compound semiannually. use the formula a=p (1+r/n)^nt to solve the compound interest problem.
it will take approximately how many years ?
round to the nearest tenth as needed.
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Ответ:
A=future amount
P=present amount
r=rate in decimal
n=number of times per year compounded
t=time in years
how many years to double
basically
A=2P at t=?
so we can simplify and ignore the pricipal given and do
r=7%=0.07
n=2 (semiannualy means 2 times per year)
t=t
take the ln of both sides
divide both sides by ln1.035
times 2 both sides
use calculator
40.2976=t
nearest tenth
40.3
about 40.3 years
Ответ:
The negative makes it a fraction, meaning it is then...
1 over 3x^4